The secondary market for Japanese whisky is experiencing a notable price decline, with Suntory's esteemed Yamazaki 25 whisky dropping below the 1 million yen mark. This shift marks a significant trend reversal, as prices had been rising steadily in the first half of 2024 before beginning to decline around June or July. The downturn in prices is largely attributed to global economic factors, particularly the economic slowdown in China.
In recent months, the prices of Japanese whiskies on the secondary market have decreased significantly, with high-end domestic whiskies seeing a drop of 15% to nearly 20% across the board. This deflation is seen by some observers as the bursting of a speculative bubble that had been inflating whisky prices.
"High-end domestic whiskies have fallen by 15% to nearly 20% across the board."
— Jun Mochinushi
Jun Mochinushi, an appraiser at BuySell Technologies, has closely monitored these price trends. BuySell Technologies, a company specializing in brand-name goods, plays a key role in evaluating the value of such commodities. Mochinushi leads the appraisal department and has observed firsthand the impact of global economic conditions on whisky prices.
The decline in whisky prices is reflective of broader global economic trends, with China's slowdown being a significant contributing factor. As China's economy faces challenges, the demand for luxury goods, including high-end whiskies, has diminished, directly affecting market prices.
Despite the initial upward trend in early 2024, the market's abrupt change highlights the volatile nature of luxury goods markets. The price shifts underscore the influence of international economic dynamics on domestic markets.
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